I have installed lucid on my Lenevo Laptop (Y 410 series , x86 platform) and it is working fine. Now I have compiled kernel 2.6.37 downloaded from the kernel tree. I followed usual procedure of compiling kernel (make menuconfig, make, make modules etc). Then I created the initrd image using mkinitramfs and updated my grub using update-grub command.

update-grub detects the initrd image of the compiled kernel. However when I boot from this kernel it gives me following error:

Gave up waiting for root device. Common problems:
-Boot args (cat /proc/cmdline)
-Check rootdelay= (did the system wait long enough?)
-Check root= (did the system wait for the right device?)
-Missing modules (cat /proc/modules; ls /dev)
ALERT! root=UUID=/... does not exist

and then it falls onto initramfs prompt.

I have tried following solutions discussed in different Ubuntu forums:

1. disable uuid and point root=/dev/sda8 (sda8 is where my kernel image resides (both default kernel and compiled one) from /etc/default/grub
2. compile kernel using CONFIG_DEVTMPFS=y suggested here Still I am unable to boot from the compile kernel.

Could someone please suggest me the solution?